Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I am about to purchase a house for cash and intend to sell it within 6 months. I have a buyer lined up but she needs the renovation works to be done first so that she can access a 85% mortgage. I am hoping to get the work done within a month but am concerned that she will have a problem obtaining a residential mortgage on the house as I will have owned it for less than 6 months.
I have also agreed to buy her existing house for the same price as she is paying me for this new one. I will get a BTL mortgage on that and then rent it. Any advice would be helpful as to which lenders will do a residential mortgage on a house owned for less than 6 months.
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